Millions wagered on Polymarket over possible US strikes on Iran

Millions of dollars have been wagered on Polymarket prediction markets on the timing of a possible US military strike against Iran and on the potential ousting of Supreme Leader Ali Khamenei, according to market data and reports.

Polymarket, a blockchain-based platform where users can buy and sell outcome-based contracts using cryptocurrency or traditional payment methods, shows heavy trading in contracts tied to whether and when the United States might carry out aerial, drone or missile strikes on Iranian soil or at Iranian embassies, with volumes in the tens of millions of dollars.

Some bettors have lost substantial sums as timelines they wagered on passed without a strike occurring.

Further millions have been placed on contracts tied to the likelihood of Khamenei being removed from power, according to Polymarket’s listings.